BCOR 2205 Final Exam Latest Updated with Complete Solutions

Which category of analytics will knowledge workers use to perform their jobs? - ANSWER-All answers are correct: Descriptive analytics techniques that describe past performance and history. Predictive analytics techniques that extract information from data and use it to predict future trends and identify behavioral patterns. Prescriptive analytics techniques that create models indicating the best decision to make or course of action to take. Which of the following refers to applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts? - ANSWER-Business intelligence Data - ANSWER-Raw facts that describe the characteristics of an event or object Order date Amount sold Customer number Quantity ordered Information - ANSWER-Data converted into a meaningful and useful context Worst-selling product Best-selling product Best customer Business Intelligence - ANSWER-Information collected from multiple sources that analyze patterns, trends, and relationships for strategic decision making Lowest sales per week compared with interest rates Best-selling product by month compared to sports season wins Knowledge - ANSWER-The skills, experience, and expertise, coupled with information and intelligence, that creates a person's intellectual resources Choosing not to fire a sales representative who is underperforming knowing that person is experiencing family problems Creating daily specials based on items that are about to expire first Internet of Things (IoT) - ANSWER-A world where interconnected internet-enabled devices or "things" have the ability to collect and share data without human intervention Machine-to-machine (M2M) - ANSWER-Refers to devices that connect directly to other devices Unstructured data - ANSWER-Not defined and does not follow a specified format and is typically free-form text such as emails, Twitter, and text messages Machine-generated data - ANSWER-Data created by a machine without human intervention Machine-generated unstructured data - ANSWER-Includes satellite images, scientific atmosphere data, and radar data Human-generated unstructured data - ANSWER-Includes text messages, social media data, and emails Structured data - ANSWER-A defined length, type, and format and includes numbers, dates, or strings such as Customer Address Human-generated data - ANSWER-Data that humans, in interaction with computers, generate Variety - ANSWER-Different forms of structured and unstructured data Data from spreadsheets and databases as well as from email, videos, photos, and PDFs, all of which must be analyzed Veracity - ANSWER-The uncertainty of data, including biases, noise, and abnormalities Uncertainty or untrustworthiness of data Data must be meaningful to the problem being analyzed Must keep data clean and implement processes to keep dirty data from accumulating in systems Volume - ANSWER-The scale of data Includes enormous volumes of data generated daily Massive volume created by machines and networks Velocity - ANSWER-The analysis of streaming data as it travels around the Internet Analysis necessary of social media messages spreading globally Analytics - ANSWER-The science of fact-based decision making Business Analytics - ANSWER-The scientific process of transforming data into insight for making better decisions Predictive Analytics - ANSWER-Uses techniques that extract information from data and uses it to predict future trends and identify behavioral patterns Prescriptive Analytics - ANSWER-Uses techniques that create models indicating the best decisions to make or course of action to take Descriptive Analytics - ANSWER-Uses techniques that describe past performance and history Accounting - ANSWER-Transactional data Purchasing data Payroll data Tax data Finance - ANSWER-Investment data Monetary data Reporting data Human Resources - ANSWER-Employee data Promotion data Vacation data Marketing - ANSWER-Promotion data Sales data Advertising data Operations Management - ANSWER-Manufacturing data Distribution data Production data Sales - ANSWER-Potential customer data Sales report data Commission data Customer support data Classification - ANSWER-Assigns records to one of the predefined set of classes The process of organizing data into categories or groups for its most effective and efficient use Estimation - ANSWER-Determines values for an unknown continuous variable behavior or estimated future value Clustering - ANSWER-Segments a heterogeneous population of records into a number of more homogeneous subgroups A technique used to divide an information set into mutually exclusive groups such that the members of each group are as close together as possible to one another and the different groups are as far apart as possible Affinity Grouping - ANSWER-Determines which things go together Reveals the relationship between variables along with the nature and frequency of the relationships Prediction - ANSWER-A statement of what will happen next in a sequence of events. Forecasting - ANSWER-Predictions based on time-series information, allowing users to manipulate the time series for forecasting activities Regression - ANSWER-A statistical process for estimating the relationships among variables. It includes many techniques for modeling and analyzing several variables when the focus is on the relationship between a dependent variable and one or more independent variables Optimization - ANSWER-A statistical process that finds the way to make a design, system, or decision as effective as possible Email - ANSWER-The exchange of digital messages over the internet Instant Messaging - ANSWER-A service that enables instant or real-time communication between people Podcasting - ANSWER-Converts an audio broadcast to a digital music player Videoconferencing - ANSWER-Allows people at 2 or more locations to interact via 2-way video and audio transmissions simultaneously as well as share documents, data, computers displays, and whiteboards Web Conferencing - ANSWER-Blends videoconferencing with document sharing and allows the user to deliver a presentation over the web to a group of geographically-dispersed participants Content Management System - ANSWER-Helps companies manage the creation, storage, editing, and publication of their website content Content sharing through open sourcing - ANSWER-Open-source system Mozilla Firefox User-contributed content - ANSWER-Reputation system Rates eBay sellers Collaboration inside the organization - ANSWER-Knowledge management system Advises golf caddies Collaboration outside the organization - ANSWER-Crowd sourcing Looking outside the box (blank) refers to how well a system can adapt to increased demands. A number of factors can create organizational growth including market, industry, and economic factors - ANSWER-Scalability Cloud computing relies on the time frames when a system is operational. Which of the following agile MIS infrastructures does this represent? - ANSWER-Availability What ensures an MIS system is functioning correctly and providing accurate information? - ANSWER-Reliability